Subhash Projects & Marketing Ltd. Q1 revenue up113%

Subhash Projects & Marketing Ltd. Q1 revenue up113%

New Delhi: Subhash Projects & Marketing Ltd., (SPML) an integrated engineering company announced results for FY Q1, for the period ended 30June, 2007. The company registered a 113% jump in revenues to 237.98 crore from 111.68 crore in the corresponding period of the previous year.

SPML has also recorded an increase in net profits to 13.74 crores from 11.49 crores in the corresponding period last year. The net profit in the previous year included an income of 7.09 crore.

Mr. Subhash Sethi, Vice Chairman, SPML said that the company is going through a high growth stage by riding the current infrastructure boom. He also informed that they were planning to aggressively bid for projects in water and power sector in addition to expanding services in the environmental engineering sector."

The shareholders of the company have approved of issuance of 81,63,265 equity shares at a price not exceeding 245 per share and 20,40,816 warrants at a price not exceeding 245 per warrant to be converted at the end of 18 months from the date of issue to Citiventure Capital Group in their Extraordinary General Meeting held on 28July, 2007.

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